DANGCEM accounts for 52% of transaction value

Dangote Cement dominated transactions at the Nigeria Stock Exchange on Monday, accounting for 52% of the day's transactions.

In all 10 million  units of the stock worth of DANGCEM valued at NGN1.853bn was exchanged in the market.

Market activity moderated to normal after Friday's spike in value. Both volume and value declined by 1.16% and 42.18% respectively.

Equities across sectors posted returns both ways with the financial services and oil marketing recording 0.48% and 2.47% respectively while consumer goods and insurance sectors declined 0.25% and 1.61% accordingly.

The market resumed on slightly positive note.. At the close of bell, the NSEASI ported 7bps to put YtD return at 34.97%, ahead of other major markets aside Ghana.

In terms of breadth, market mood tended towards bearish direction given the market breadth at 0.5x. A total of 51 counters changed prices with 34 decliners and 17 advancers. The day's gains were supported by heavy to mid cap stocks as GUARANTY, ZENITHBANK, FO, CAP and MRS posted gains to drive index. On the laggards side, NESTLE and FBNH shed 41bps and 56bps respectively to drag the benchmark.